Will Obama’s Push for Jobs Lead to a New Economy?

It is wonderful to be back full-time at IPS – 15 months is a long time to be away. I’m deeply indebted to the Institutes’ staff, board, and supporters like you for keeping IPS vibrant.

I want to thank Joy Zarembka in particular for guiding IPS during my sabbatical. Joy brought wisdom beyond her years to the helm, and we’re stronger because of it. We’re also greatly pleased that Joy will stay at the Institute, moving into the position of Associate Director. You’ll see both of us writing for Unconventional Wisdom and sharing leadership as IPS confronts the greatest social and political challenges of the day.

Tonight, President Obama will address one of those challenges in a critical speech on his plan to create jobs. IPS has argued that any plan must build a new economy by shifting resources from speculative Wall Street firms to green Main Street firms. Central to this are revenue-raising measures aimed at reducing our country’s immense inequality. Last week, we deepened our analysis with the release of our report, Executive Excess 2011: The Massive CEO Rewards for Tax Dodging. It was perhaps our best media day ever, garnering coverage in The New York Times, The Washington Post, The Nation, The Hill, Politico, CNN, the Chicago Tribune, and hundreds of other outlets.

The report found that corporate tax dodging has gotten so out of control that 25 major U.S. corporations last year paid their chief executive more than they paid Uncle Sam in federal income taxes. And these people – the nation’s CEOs – are reaping awesomely lavish rewards for the tax dodging they have their corporations do. Obama would do well to urge Congress in his address to pass the Stop Tax Havens Abuse Act as one small step to curb corporate tax dodgers. Tune in to our blog and twitter stream tonight to get our breaking reactions to the speech.

As our country reflects upon the 9/11 terrorist attacks, many commentators are focusing on the role of the United States. But the past decade of fighting apparently endless wars confirms that Washington lacks the power and responsibility to serve as the global cop. As IPS expert John Feffer explains, “The problem isn’t out there. It’s right here, in the minds of those who believe that the United States is essential to managing these conflicts.”

Finally, I invite you to join IPS as we remember two of our colleagues killed in the first act of foreign terrorism on U.S. soil – the assassination of Orlando Letelier and Ronni Karpen Moffitt at Sheridan Circle on September 18 and at the Letelier-Moffit Human Rights Awards on October 12.

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